Pretty good predictions, and it continued to follow the channel down to current levels. What do you think next, dropping lower or will it break upward?
gsfx111
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@huston4, Haven't taken a look at it because I've been seeing some good opportunities on ngas. Overall I bullish on Gold so I think jnug should also rise
bnaryle
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Because this derivative is backed by movements in the price of gold, what do you see happening macroeconomically that will cause the price of gold to increase at such a pace as you're portraying in your chart? Granted it's at $1268 right now, I just don't see too much confidence in the price of gold at that level versus what the market is doing.
gsfx111
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@bnaryle, Gold is in a downtrend but is due for retracement, similarly jnug is also retracing. I believe Gold should touch 1276 and jnug can increase simlarly.